Livestock Feeds Plc 3 Month 2017 Financial Summary
| 3 Months Report LIVESTOCK FEEDS PLC | ||||
| 2017 N'000 |
2016 N'000 |
change | Year End | |
| Revenue | 3,122,559 | 2,091,393 | 49% | December |
| Profit/Loss before taxation | 25,954 | 3,423 | 658% | |
| Profit/Loss for the period | 17,648 | 2,328 | 658% | |
| Issued Shares (Units) | 1,999,999,418 | 1,999,999,418 | ||
| Basic Earnings Per Shares (Kobo) | 9 | 1 | 633% | |
| Last total dividend paid (Kobo) | 0.00 | 0.00 |
Livestock Feeds out of the block with speed and we hope it sustain this through the year. Maybe if it continue at this trend we may see the first dividend in a long time.
The year on year performance was trilling as its revenue grew by 49% and PAT by a whopping 658%. While quarter on quarter performance was down by 8.82% in terms of revenue and 60.80% in terms of PAT.
Finance cost remains a major concern for the company as it increased by 151.85% from #94.3million in 2016 to #237.6million in 2017. We hope part of the proposed Rights issue would be used to offset the loan.
The last two quarters reflected the seasonal nature of the business whereby we have revenue jump up around festive seasons. We belief that, Livestock should do well this year given the stability expected in all Macro and Micro Economic variables.
Livestock Feeds planned Rights issue of 1,000,000,000 ordinary shares at 75k per share opened on 18th April 2017 to close on 25th May, 2017. If successful would increase the outstanding shares to 2,999,999,418 which will have impact on the EPS that is currently at 9k.
The stock is currently trading at 44k below its book value. That is 41.9% discount to book value.
We expect the Market to react positively to this result but however with caution.
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